Cash Converters is an iconic Australian challenger brand that divides opinion. To some it evokes negativity based on past practices, behaviours and opinions. However to many happy customers, the brand is their hero. Sometimes a little unconventional but nonetheless a hero.
When you dig below the surface, you reveal some truths about the brand that support that theory. Since 1984 Cashies have been working alongside their customers both online and in store in communities, to find retail and financial solutions for people who historically had limited options, broadening choice for all and ultimately enhancing their lives.
They exist in their own category; the mix of retail and diverse financial products, community and online stores, part franchise, part wholly owned is unique. It sets them apart but it also comes with its own set of challenges that no other business faces.
Brand consideration for some is out of the question; 55% of Australians feel ‘Cashies – it’s not a brand for me’ however this is often the result of a lack of understanding and false perceptions based on hearsay and negative media reporting; nonetheless this is a challenge that any marketer should be excited by.
At the start of 2019 leadership, new focus and new responsibilities, and started out on a journey to redefine this iconic Australian brand that was founded in Victoria Park WA and today has more than 700 stores in 16 countries and a sophisticated online buy, sell and loan store.
The business was very conscious of the polarising nature of their brand and knew that in order to flourish in the future, they needed to not only tactically market their products and services, but also present their brand to a new audience, whilst retaining their loyal customer base.